Had a number of good conversations with friends this past week, related to bitcoin. Slowly, steadily, the bitcoin meme grows. Patience is a virtue.

One of the most interesting ideas I've ever encountered is that intelligence can be measured as an entropic state. More entropic potential = more intelligent. You can think of it as more entropic potential = more ability to affect the future.

This is the paper that first opened my eyes to the idea:
cfreer.org/papers/PhysRevLett_

I'm digging back into it today, currently looking through this paper, which posits entropic force as a driver for brownian mothion:
arxiv.org/pdf/1310.4139.pdf

I'm seeing that El Salvador purchased 200 BTC for their treasury holdings.

Very interested to see how the narratives around this play out, I expect they're going to be demonized. They're playing soccer with the hornet's nest.

My new approach to the reddit DM scammers is to offer them an ‘investment opportunity’ before they can offer the same to me.

“No, I asked you first! You should invest with me!”

This is more fun than just calling them out as scammers. Most of em just deny it anyways if you do that, but I have had a couple of them concede. I’m amazed anyone falls for their BS tbh

Cryptocurrency exchanges are just hot potato platforms.

So I'd never stopped to consider that if a chain splits, any NFTs on that chain will exist in duplicate on the resulting forks.

So which one becomes the 'true/original NFT'? The one on the chain that wins the name (eg ETH vs ETC)? The one that ends up with more economic value? Does the minter get to decide?

I suppose that both copies would exist and hold some amount of value (whatever value an NFT holds, at least). No clear social consensus here, maybe just a case-by-case basis.

Is there a place that reports the metric of 'total coin days'?

'Coin days destroyed' is a well-known method, but what about a metric that is just the sum of all currently potential 'coin days destroyed'. Perhaps just as if they were all spent in the next block, despite that obviously not being possible.

Might also be useful to remove known lost/burned coins from the metric. Could also be interesting to normalize the chart wrt time (as otherwise 'total coindays' will always increase)

Would you call the lightning network an experiment?

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Would you call an experiment?

People talking about what drives the price of is always kind of interesting to me, but not because I worry about attributing any certain event to a price movement. Its more just interesting to see how people perceive the market.

I'm curious to see what happens next, considering all the noise about a new bill being passed through the American political apparatus. Price goes up? Bill must've been good for bitcoin! Price down? Oh no, America killed bitcoin! Which will it be? 🤔 😂

Mempool is looking very empty. Get your transactions in! Get your lightning channels open! No complaining the next time its back up to a consistent 30+ sats/vbyte :p

Me: "Please send payment, here is the amount owing (to the sat)"

Customer: "I sent payment (rounded up to the nearest hundred thousand sats)"

privacy isn't easy lol 😅

Another issue I see with this analysis: it uses start-up costs to posit a total cost of attack, yet an attacker could invest in ASICs/stake, reap the honest rewards for a while, and then later perform the attack. Thus they can recover capital costs, making the (net) cost of attack much lower.

With ASICs, the ability to attack is diminished over time (hardware becomes outdated/breaks), but with stake, it remains approx unchanged (you will have approx the same % of stake, all else equal).

2/X

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Reading through a few PoS vs PoW articles online, came across this one from Vitalik:

vitalik.ca/general/2020/11/06/

The first section (on relative costs) feels completely mis-framed to me. The first red flag comes from the huge difference in the GPU vs ASIC calculation - why ignore all 'capital costs' for GPU mining? Why can't we rent ASICs? (Or rent stake, for that matter?)

1/X

The ocean doesn't care how much you own. It will swallow you up all the same.

A friend and I have started to settle our golf bets via the lightning network. Which would be pretty sweet, if I wasn’t down 41,000 sats on the last two rounds 😅

Anyone here using Sphinx Chat?

How do I get an invite code, when I'm running my own node? I can't seem to find any info about this in their docs? 😅

Life experience is the thing you trade life for.

Gotta do your best to make good trades.

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